FIRST CITIZENS BANCSHARES INC /DE/ 8-K

What Happened
First Citizens BancShares, Inc. (FCNCA) filed an 8-K disclosing that Lorie K. Rupp, the company’s Chief Risk Officer, notified the board on January 12, 2026 that she will retire effective June 1, 2026. Tom Eklund, currently Treasurer of BancShares, is expected to become Chief Risk Officer effective upon Rupp’s retirement. The company issued a press release on January 14, 2026 announcing the planned transition.

Key Details

• Lorie K. Rupp notified the company of her retirement on January 12, 2026; retirement effective June 1, 2026.
• Tom Eklund, current Treasurer, is expected to succeed as Chief Risk Officer on the same date.
• Announcement made via press release on January 14, 2026 and reported on Form 8-K (Regulation FD disclosure).

Why It Matters
A bank’s Chief Risk Officer plays a central role in overseeing credit, market and operational risks and interacting with regulators. This is an internal succession (Treasurer → CRO), which may indicate continuity in risk management and leadership. Investors should note the timing of the transition (effective June 1, 2026) for any potential updates to risk policies or public disclosures, and watch for further details on Eklund’s responsibilities and any related leadership changes.